What does a successful entrepreneur do for their second act?
Most entrepreneurs work hard to create a prosperous business, perhaps even with the intent of selling it and making an exit. For those who succeed, the next question is — now, what? Do you start a new business and begin the cycle again? And how do you give back to those who helped you reach success?
Today, I sit down with Jay Steinfeld, a world-renowned entrepreneur and early ecommerce adopter who took his small blinds business online in the early days of the internet, and the story of how blinds.com became the largest online blinds retailer in the world. He is also the author of Lead from the Core: The 4 Principles for Profit and Prosperity, which lays out the “Four Es” — a set of guiding principles that can help overcome any obstacle to your organization’s success.
Jay takes us back to 1993, and tells us how he experimented with online sales to supplement his brick-and-mortar store. While it was slow at first, the online channel grew so large they chose to sell the physical business and concentrate on online sales. In 2014, Jay sold blinds.com to Home Depot. Unlike many entrepreneurs, Jay chose to stay with Home Depot for 7 years, leading their online leadership team. Jay explains that his vision was not complete, and he seized upon the opportunity to see it through to the end. He moved his knowledge of online sales into adjacent categories, and found even greater success.
Now, Jay tells us about his book, Lead from the Core, which teaches the four 4’s E's: Evolve, Experiment, Express, and Enjoy. He uses the book, and it's lessons, to elevate others and help their businesses rise and grow - giving back to the communities and people who supported him in his initial ventures.
Our conversation is packed with powerful advice for entrepreneurs at any stage of business!
Three Key Takeaways:
* When you have a compelling vision for your entrepreneurial efforts, share it with others - it will improve everyone's success, and move the world forward.
* Don’t be afraid to take chances and experiment with the way your business operates. You might discover new opportunities.
* A compelling vision and positive culture is crucial to retaining key employees through any transition. Be transparent with the 'why' as well as the 'how,' and you'll see people lean in!